bearish
-----------
- shooting star candle in the daily chart indicates short-term downward pressure
bullish
----------
- finished forming a bottom spanning six years with the first indication of an inverted yield curve
- central banks may be forced to print even more money due to ...
+ corona-virus-related quarantines and travel restrictions slowing down the world economy
+ a possible recession with "passive" risk factors being
* high levels of corporate debt: may force businesses into bankruptcy
* structural problems in the Euro area: it is impossible to address both the economically strong and weak nations in the euro area adequately with a single set of monetary policies
* a possible end of globalization: trade war, alt-right movement
* structural problems of the current form of capitalism: growing wealth gap between the rich and poor, financial system is deeply ill
* natural disaster: global warming, pollution
-----------
- shooting star candle in the daily chart indicates short-term downward pressure
bullish
----------
- finished forming a bottom spanning six years with the first indication of an inverted yield curve
- central banks may be forced to print even more money due to ...
+ corona-virus-related quarantines and travel restrictions slowing down the world economy
+ a possible recession with "passive" risk factors being
* high levels of corporate debt: may force businesses into bankruptcy
* structural problems in the Euro area: it is impossible to address both the economically strong and weak nations in the euro area adequately with a single set of monetary policies
* a possible end of globalization: trade war, alt-right movement
* structural problems of the current form of capitalism: growing wealth gap between the rich and poor, financial system is deeply ill
* natural disaster: global warming, pollution
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Update: coronavirus also has a direct bearish effect of the gold price because chinese quarantine measures curb jewelry demand